Mersive Technologies Announces Series B Funding Round

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Mon Jan 12, 2009 9:01am EST

Hopewell Ventures To Provide Working Capital for Mersive Technologies To
Fulfill Significant Demand 

LEXINGTON, Ky., Jan. 12 /PRNewswire/ -- Mersive Technologies today announced
the close of a $4.6 million Series B round of venture capital financing.  This
round will fund the ongoing development and expanding delivery of the world's
most accurate multi-projector alignment solution for the military simulation
and commercial markets, as well as support the company's tradition of
innovation in large, high-resolution display technology.  Hopewell Ventures
served as the lead investor in the round with a $4.0 million commitment, and
was joined by existing investors Adena Ventures, the Kentucky Science &
Technology Corporation and the Bluegrass Angels Venture Fund.  Mersive
completed a Series A seed capital financing in July, 2006. 

Mersive Technologies, founded in 2004, has a significant number of
installations in military simulation environments, as well as in education,
engineering, and research and development applications.  Its military
simulation clientele includes all four branches of the U.S. Armed Forces and a
number of homeland security agencies.  The funds will allow Mersive to
accelerate adoption of what is fast becoming the de facto standard alignment
solution in the military simulation industry while fulfilling growing domestic
and European commercial demand. 

"Mersive Technologies has built an A-list of clients and continues to innovate
in the projection calibration and high resolution display space," said William
Sutter, Partner at Hopewell Ventures. "The company has a significant pipeline
of orders that require immediate resources to fulfill.  Additionally, a
portion of the capital will fund further research and development to maintain
Mersive's leadership in visualization technology. We are delighted to invest
in such an exciting growth company."

"The simulation industry requires automatic alignment capabilities for
multi-projector displays and Mersive is now positioned to deliver on that
requirement," said Randall Stevens, the company's CEO.  "The influx of capital
at this critical juncture will be important to building a support team that
can respond to the success of our customers, partners and resellers.  At the
same time, our engineering team will have additional resources to improve upon
what is already the best alignment solution in the market." 

About Mersive Technologies
Mersive Technologies is a display technology company that redefines the ease
with which ultra resolution, multi-projector displays can be designed,
configured and maintained.  A leader in the creation of ultra definition (UD)
displays with resolutions greater than high definition (HD) devices, Mersive
provides a cost-effective, true auto-alignment solution capable of merging any
number of projectors into a seamless display of almost any size, shape and
resolution.  Technology once considered only practical for select high capital
industries is now being made available by Mersive for a range of applications
from simulation and training to museum displays and digital signage. Mersive
is privately held and venture funded with additional grant support. Its
clients include the U.S. Army and the U.S. Air Force as well as a number of
museums and academic labs. For more information on Mersive's ultra definition
display technologies, please visit www.mersive.com.

About Hopewell Ventures
Hopewell Ventures (www.HopewellVentures.com) is a $110 millionChicago- and
Peoria, IL-based venture capital and private equity firm providing growth
capital to Midwestern businesses in a broad range of industries and stages of
development. With more than a century of experience, Hopewell's team makes
initial investments of $2.5 to $6 million.




SOURCE  Mersive Technologies

Rachel Honig, rhonig@schwartz.com, or Dave DuBois, ddubois@schwartz.com, both
of G.S. Schwartz & Co. Inc., +1-212-725-4500, for Mersive Technologies
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